Nowadays People pretend to be Rich When in Fact They Are as Broke as You
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It might be because many of them don’t have any intention to save the money for the future, and would rather spend it now, like I usually do. Those kind of people prefer to spend their money on houses, cars, consumer goods, travel, clothing, electronics, and the list can go on.
Those things come before things like saving for the future, for the inevitable retirement. I once read a quote, that I believe fits here: spend your money on experiences, not on things.
And I believe that people are doing just that. They don’t think about the future, they live in the moment; in that moment when they have money, and they buy all the things that they don’t need, with money that they don’t really have.
A balanced financial life can be hard to achieve, and involves living within your means, and includes things like saving for retirement.
A well balanced financial life should, in theory, include saving at least 10% for the future, because you don’t know when you might need a safety net during the later days of your life, especially when you are too old or too sick to work. Our generation and the generation before us, has somehow managed to overcome those fears, thanks to pension programs and Social Security.
Those are the things that gave them security, that have taken the place of retirement savings for many people in retirement today. Basically, during their adult lives, many of them have never needed to save for retirement.
And if individuals are looking to do anything in their later years, besides working until they die, then they might have to start living a balanced financial life that includes at least 10% contribution to the retirement found.
But as expected not many people do that, because most people place a much higher priority on the things they want in the present in order to live a good lifestyle.
They have to make hard choices between the biggest excesses in all their spending, the last important things they choose to spend their money on, and saving for retirement.
Instead of doing that, they prefer to choose things like a double mocha latte or the least iPhone over the security of their future.
Those kind of people need more money every time, and they end up cutting out the retirement savings, in order to be able to afford more items.
As a conclusion, many people pretend to be richer than they actually are; some of them do it to impress others, others go for the YOLO ( You Only Live Once) thing.
Few people actually notice the car you drive or the clothes you wear, and even less than that really care.
You need to think about your future, and your worry must not be your friends, or what they think of you, because in the end, you face your problems alone, not with them.